Sales Tax Only - Sales Credit Memo

KWevick
KWevick Member Posts: 103
edited 2009-02-12 in NAV/Navision Classic Client
My client is trying to reverse some initial problems with getting their sales taxes set up correctly, i.e., they need a sales tax only credit memo. I'm pretty sure that NAV doesn't support this (V 5.01SP), but I'm wondering if there might be some work arounds. We don't want to issue the CM's to a G/L account because of course they won't update the juristictions. Any suggestions are greatly appreciated.

Many thanks. #-o

Comments

  • themave
    themave Member Posts: 1,058
    When I need create a sales tax only credit memos I do the following:

    I have a generic Item, that I don't inventory, but use when I need to bill a Non-stock item out, without creating a new item card.

    I enter this item on the credit memo, with the sell amount equal to what ever was originaly entered, and on the line the standard tax code that you are crediting, then I enter a second line, same info, except the qty is -1, and the tax code is resale code, which carries a zero tax rate, or you can just make the line not tax liable.

    so the net is a credit of just for the tax,

    so line one credits the sale price and the tax,
    line two reverses the sales price but not the tax,
    net is tax only credited.
  • KWevick
    KWevick Member Posts: 103
    Thank you. Great minds must think alike. I was looking at doing the same with a G/L account. \:D/

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